Legislators approved the Scott Administration’s proposal this morning to allocate an additional $11.5 million in unspent CARES Act funding for more economic recovery grants for Vermont businesses.
This new funding increases the grant amount for businesses that are not in the hospitality industry, from 33 percent to 41 percent of unmet need. Hospitality businesses are already getting relief for 100 percent of their unmet need through September 30, with a cap of $300,000.
Last week, the Vermont Chamber asked business leaders to urge the Joint Fiscal Committee to approve this relief. Today, we encouraged them to thank their legislators for their ongoing support of businesses.
These recovery grants are essential to the survival of Vermont businesses that continue to grapple with the staggering economic impact of COVID-19. The Vermont Chamber will continue to advocate for swift and substantial relief to help businesses across Vermont.
This new funding increases the grant amount for businesses that are not in the hospitality industry, from 33 percent to 41 percent of unmet need. Hospitality businesses are already getting relief for 100 percent of their unmet need through September 30, with a cap of $300,000.
Last week, the Vermont Chamber asked business leaders to urge the Joint Fiscal Committee to approve this relief. Today, we encouraged them to thank their legislators for their ongoing support of businesses.
These recovery grants are essential to the survival of Vermont businesses that continue to grapple with the staggering economic impact of COVID-19. The Vermont Chamber will continue to advocate for swift and substantial relief to help businesses across Vermont.
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